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CNBC
Mar 22, 2013 3:00pm EDT
term, do you think this economy improves second half or do you think it slows down? >> i think, as a matter of fact, we're probably in the second quarter. you'll start seeing slow growth. but i think as this summer winds, you know, goes through, we'll start seeing some growth again. i do think that by the end of the year, we're going to be not a lot higher, but i think we'll be at all-time highs as the year goes on. probably the the end of the summer, the third quarter going into the fourth quarter. i'm positive. >> so bill, because the s&p capital iq estimates call for 0.6% growth the first quarter and then it goes up to 7%. so they're expecting profits to actually reaccelerate second half. >> lee munson, you're the only outside guest buying stocks here. what are you buying here? >> you know, i'm just focusing where i need to get some more exposure. i'm focusing first on emerging markets. they've lagged year-to-date. i think they can outperform by december 31st. i like the emerging markets to add more money today. i would also say, add more money to the s&p 500 today. the only place
CNBC
Mar 19, 2013 3:00pm EDT
this was a good idea. i mean, if you look at cyprus' economy, there are two major factors to that economy. tourism and financial services. you could kill the financial services immediately right there. so it's two underpinnings. almost like when greece was doing smo of the same things. >> but you say it matters because it could spread elsewhere? >> just the thought that somebody thought this was a good idea is scary enough to me, i would think. but it's going to be one of those things. we'll have to watch and see how it folds out. but i've got a feeling it will have to turn itself around fairly quickly. >> michael, what do you think? have you changed any of your behavior in terms of allocating capital, as a result of what we've seen in the last 48 hours? >> no, not really, maria. i still think that cyprus is certainly something to watch. but i think it's just part of the negotiation process, exactly what's happening in greece. we have to watch and see if it accelerates and this idea sweeps around europe, but i doubt that's going to happen. i actually think that europe is starting
CNBC
Mar 21, 2013 3:00pm EDT
to and improving global economy. everybody has thought, oh, europe is getting better. and the reason that they have is those credit spreads have gotten better. the european central bank have pushed those credit spreads down. the thesis has been that the global economy is getting better, but it's not getting were the. all of the economies in europe are deteriorating. japan is deteriorating. our market's moving higher because of money printing. once that -- once we get a spillover effect, some sort of a watershed moment in europe, you're going to want to take your assets off the table. >> well, that's a good point, but at this point, eric marshall, do you want to be takingoney off the table now? and if so, where do you put it? >> well, i think the important thing here, you know, stocks have been moving up over the last few months, really in response to improving corporate earnings. so i think you really have to focus on individual company fundamentals. and at the hodges fund, we really see this as the golden age for active portfolio management. you know, over the last few years, invest
CNBC
Mar 18, 2013 3:00pm EDT
the happening in europe to the u.s. economy right now? >> also, two huge interviews still to come. meredith whitney tells us why she's very bullish on one of wall street's biggest banks and right now. and cit group chairman and ceo john thain reacts to the rumor that will not go away. namely that his company has been shopping for a suitor. john will try and lay those fears aside once again, those rumors. >> a look at where we stand as we approach this final stretch, final hour of the day. dow jones industrial down about 26 points. had been down 110. we are well off of the lows. nasdaq looks like this. also pretty volatile in the afternoon here. as you can see, it is down about five points at 3243. s&p 500 really similar move here. down five points. equities showing great resilience, pushing back from a triple digit loss today. will the crisis abroad keep the markets in jeopardy? >> you had to be named steve to be on the panel today for the most part. steven water from russell investments, steve sacks. steve liesman is with us. and then there's that guy santelli who joins us daily
CNBC
Mar 20, 2013 3:00pm EDT
than would be desirable in a long-run, healthy economy. that does have some effect on monetary policy. one of the most powerful tools we have is bringing down mortgage rates and stimulating home buying, construction, and related industries. so that is an issue we take into account. i would say one thing, which is that as the housing industry has strengthened and home prices have gone up, that has actually brought some people into the credit box, in the sense that the number of people, for example, who are underwater on their mortgages, is declining, as house prices go up. so as people have bigger down payments, bigger equity in their homes, they become more creditworthy. so to some extent, not -- i don't want to overstate it, but to some extent, monetary policy, by strengthening the housing market, helping support house prices, is bringing more people into the mortgage market. >> fox business. the stock market has been hitting all-time highs. it's recovered all of its losses from the financial crisis. i just want to know from you if i still have time to get in. but, seriously,
CNBC
Mar 25, 2013 3:00pm EDT
depositors. cyprus's banking system is huge relative to the size of its economy. their banks are almost all entirely deposits. at least the two ones that were failing. most of the other banks in europe have a lot more junior and senior debt. big fat cushions that sit between potential losses and uninsured depositors. so the likelihood of this particular situation happening again? highly unlikely. but you're going to have to be more careful. that's the bottom line. bill? >> michelle, the question we're all wondering about here in the states and i guess around the world is will the cypriot banks will able to open tomorrow as had been expected? >> no. no. they've finally put out a statement and acknowledged what we were all beginning to realize would be true. they cannot. they're going to open up the two troubled banks on thursday, they hope. they claim they're going to open up nontroubled banks as well. that's going to be difficult. remember, banks talk to each other, right? there's all kinds of intrabank business that happens. it's going to be slightly problematic. we'll have to see how
CNBC
Mar 26, 2013 3:00pm EDT
government. i have a lot of concerns as we see these positive indicators going higher, the economy starts to come back a little bit more and a little bit more, that then congress is going to think that they have a free pass to start spending again. and that will be disastrous for the market and the economy. >> so you're more concerned about fiscal policy than monetary policy right now, is that what you're saying? >> i'm most concerned about legislative policy, then fiscal policy, then monetary policy. >> bill, you mentioned that it's been almost two weeks now that the stock market's been so close to making a new all-time high on the s&p 500, just can't do it. i think it's interesting, at the same time, the yield curve is starting to flatten out, just a little bit. these are indicators that maybe this is time for a top year. we might be on the cusp of another one of those -- >> explain, paul, what it means when the yield curve flattens out. why is that substantiaignifican? >> over the long-term, the flat of the yield curve eventually gets inverted, the more likely we'll have an economic di
FOX Business
Mar 25, 2013 3:00pm EDT
trying to achieve a dynamic in the economy that is unsustainable long-term and therefore we come to the detriment of future generations and therefore i am quite concerned that keeping monetary and fiscal policies very loose for an unsustainable long period of time might generate numbers we see now that looks good for current generations but actually come at the expense of future generations. i'm quite concerned in whether we are really trying to counter something that would look at as being typical, but if it is more structural would look to a lot of stimulus at it and undermine the future. i'm quite concerned about that aspect of what we are doing. >> thank you. >> i think you have it right. he spoke of allowing people to have higher living standards, more choices in their lives and a little bit more comfortably. i can't resist taking the opportunity though to disagree with the broad spirits of his last comment. i do not leave the long run can be seated to the avatars of austerity. i am the father or stepfather of six children and on their behalf i am concerned about the possibility ov
CNBC
Mar 19, 2013 4:00pm EDT
niche market. the u.s. has had their economy outperform other economies and i think it's a flight to safety relative to the u.s. markets on one hand and it's an unwind from the bond market and risk exposure going forward to rate changes on the other hand. so it's both a flight to safety as well as, you know, what's really going on domestically and people are looking at a twist now with the fed and what their posture will be heading forward. >> i'll be back, adobe earnings at the top of the hour. >> take care, maria. >> what do you think? we're finishing positive here. this market doesn't want to go up? you think some of that's short covering? >> i think that's what we're see right now. finishing up the day. right now people will have to play it cautiously. we haven't seen the end of the cyprus thing. we have some negotiating going on from russia. the impact of that, as you mentioned, is a little minor relative to the size and scope of them, but it's whether or not that moves into italy, spain, as we've all been talking about. >> the contagion. thanks, terry, good to see you. looks li
CNBC
Mar 22, 2013 4:00pm EDT
a great weekend. by the way, does a bad economy bring euphoria to the walking dead? >> i think it does. >> we'll talk to the creator later. >> that would be her zombie walk there, as she moves on to the next hour of the "closing bell". >> do earnings matter or is it still about the fed? >> it seems like earnings mattered yesterday a little bit. i don't think cyprus was the reason we sold out. are they going to matter going forward? i don't think so. not for the next three months. the fed is still the major factor in this. cyprus isn't a factor yet. earnings aren't a factor. the fed has definitely cleared the -- >> it's about liquidity in this market. >> absolutely. i would like to see more liquidity as far as volume goes. you get an 85-point rally off yesterday's sell-off, small volume, not much of a factor. but cyprus will lead the day monday morning in a short week. >> all right. thank you, matt, very much. all right, we've got a market coming back a little bit. needed to be up 92 to be positive for the week. we're ten points away from that. it's like a racehorse heading towards
FOX Business
Mar 19, 2013 3:00pm EDT
are bullish on the economy. i want to be there, and there's a mixed bag here, unemployment, 7% to 8% range, forecasted for the year. housing, a little bit of a concern here from economists that the housing market is ahead of itself, but, still, bullish on the u.s. economy, so explain that. >> yes, thanks, cheryl. we are bullish on the u.s. economy, housing continues to come back. you saw the numbers today, but, you know, it's still 15, 20, 25%, spending where you are, in the u.s. 30% where it was at its peak. you know, household formation in the last few years has been delayed because of americans deciding to live with their parents, essentially, but population growth continues. bullish on the housing market driving quite of other consumer demand. cheryl: are you changing your asset allocation mix now? is that something you're in the midst of doing, especially on a day like today and yesterday when there seems to be a lot of money moving around, not a lot of new money, but money moving nonetheless. >> we're not changing our allocation. it's a bottom-up investor, a u.s. equity focus,
FOX Business
Mar 20, 2013 3:00pm EDT
and the growth of the economy, we're still some distance from the high. it is not all that surprising the stock market would rise given that has been increased optimism about the economy and the share of income going to profits has been very high. relationship between stock prices and earnings is not particularly unusual at this point. >> the associated press. mr. chairman, statement mentions fiscal policy has become more restrictive. how much of a drag do you see from the social security tax increase and the across-the-board spending cuts that went into effect on march 1 and is it possible the fed might see a need to provide more support to the economy because of that drag on the fiscal? >> our analysis is fairly comparable to analysis congressional budget office presented to the congress and thestimate put together the fisl measures including the fiscal cliff deal, they sequester and other cuts that federal fiscal restraint in 2013 is cutting something like 1.5 percentage points off of growth to which is very significant. so that is an issue for us. we take as given with
FOX Business
Mar 18, 2013 3:00pm EDT
-lasting impact on our economy. we've been dealing with a lousy europe for a long time. but you'll have this pullback at 5 percent which is about 1484 and 7% at 53, i might consider getting back in, but i'm not doing it until then. cheryl: looks like europe doesn't have a plan, obvious. let's go to the nymex, jeffrey grossman. jeff, let's talk about the oil contract. one of things we saw today again was the safety of the u.s. dollar. you had traders around the world jumping into the dollar. your take. >> today was really a dream come true in many respects. we walked in this morning, the dollar was very strong, took our market down right to the support level. 91.75 and spot crude was a major support level on the way down. the minute the dollar weakened, came off those highs a little bit, market rallied right pack to where the resistance levels are which is in the high 93.85 to $94 level. it's behaving like a normal market really with a little input that came in from the european information here, but the truth of the matter is this is a market that still, again, is a sale on rallies unti
FOX Business
Mar 21, 2013 3:00pm EDT
economic environment, you're looking at the economy even though we had kind of a mixed picture today and then, again, corporate valuations. that's the bulls' side of this. john, i know you're bearish. you're calling for serious corrections on the s&p and dow. you're saying it's going to happen sooner rather than later. what are you seeing on the other side of the coin here? >> well, look, when things are euphoric, which they are, when alan greenspan comes out and says pie stocks along with the movie stars and, of course, our good friend, ned, then you should be looking to sell. and i'd also like to say this, i was on the show here last april 2012, we were pounding the table then, but right now you've got some real headwinds, and i'll give you a few of them. one, gdp is benign, .1%, you know, in fourth quarter of 2012. analyzed numbers are running around 2%, it just isn't keeping up. unfortunately, the treasury market is not confirming here. you know, if the ten-year was at 275, i'd say we'd probably leg up here, not happening. you know, and i think, thirdly, look at earnings. look at
CNBC
Mar 26, 2013 4:00pm EDT
. wages, also. and i do think that we will see money coming into this economy. that will help to keep these trends going. and i think that will be a real gift. and i think cyprus was probably a gift to the u.s. treasury market, to help keep rates very low and attract save investors. >> and we welcome now tim leetch. cyprus to you is so yesterday. you're watching slovenia, right? >> that's right, bill. >> slovenia? >> slovenia. we're trying to look over the horizon, as opposed to yesterday. and when we see the banking pressure on countries like cyprus, we think about what's next. and what does this really mean for the stability of the banking structure in europe as a whole. and we're concerned, frankly. we haven't seen the structural repairment that the europeans have had to step up to do. and certainly, cyprus hasn't convinced anyone that the european leadership has their act together. >> so, yesterday, the sell-off was the fear, and this was inflamed by the dutch finance minister, that maybe the cyprus bailout was a template for future bailouts of other countries, should they need th
CNBC
Mar 18, 2013 4:00pm EDT
tax havens and the multitrillion dollar economy of offshoring. cyprus, of course, a classic tax haven for the wealthy. russians invested more than $119 billion in cyprus in 2011 alone. they accounted for about a third of total dpos its. the new tax on deposits, let's call it what it is, a wealth tax, has americans worrying about other tax havens. more than $20 trillion held around the world in offshore havens. their favorite tax havens are in the caribbean. namely the cayman islands, bahamas, british virgin islands. globally the channel islands, monaco, switzerland and swing pore. caribbean countries in much better financial shape and more stable legal systems than cyprus. the capital structure of some of these offshore banks remains a mystery. governments in the tiny island nations are notoriously prone to corruption and sudden policy shift. many say cyprus isn't likely to repeat soon. the crisis is another reason offshoring may become more risky for the world's wealthy. >> thank you so much, robert frank. >>> i'll talk exclusively with john thain next. >>> the potential for eu
FOX Business
Mar 26, 2013 3:00pm EDT
. and he is confused. you have to love it, right? >> crude oil is telling you something, the economy is stronger than a lot of people think, and if you look at the durable goods number, the housing number, all of this rehab being done, granted a lot of it is investors coming in and buying up properties, they're also putting putting a lot of money into those properties to rehab them because of their top dollar. durable goods numbers have a lot to lean on. liz: thank you all very much. good to see you. the billionaire investor, mario. he made the call in january, you didn't think the market would gain more than five points this year. look at you aiming for the 5%. the s&p up nearly 10%. in this fox business exclusive coming look at the roundtable, are you readjusting your 5% for the year estimate? >> let's say the argument from day one, this will be an extraordinarily exciting year to buy stocks. when we look particularly reading annual reports, we find, continue to find great ideas. these are things that stimulate the appetite and the deleveraging will continue and it could be potholes.
CNBC
Mar 20, 2013 4:00pm EDT
the economy that's being left at a tivitate now, and where's the exit strategy? >> and i think revenue could be an issue. oracle is out with its third quarter. revenue came at 8.6 billion versus 9.3 billion, an estimate. jon fortt has all the numbers right now. >> let's drill down to some numbers, maria. exactly where oracle missed, because this is a miss. on new license and cloud revenue, the street was looking for 2.57 billion. they came in at $2.3. on hardware product revenue, the street wanted somewhere around $800 million in research. they came in at $671 million. that's well below their guided range on that. and on non-gap operating margin, they came in at 47%, which is right about where the street was looking. they don't give guidance until the call, but this is really important, because they're guiding into their biggest quarter, their fiscal q4. also, larry ellison has said the hardware business was going to have a transition quarter in q3. we should expect to start seeing it growing in q4, given this hardware number, it's going to be especially important for them to b
CNBC
Mar 21, 2013 4:00pm EDT
the economy. airlines are doing very well, but others are not. fedex, just an example of that. does that trouble you for the market here? >> yeah, it does trouble me. and going forward, we're going to watch those earnings closely, but you need a good transportation sector. we've had a nice little push, but now it seems to be getting a little weak. >> at the end of the day, $100 million for stocks for sale earlier. not a major number, but what are you expecting as we close out this day, down 86 points? does this get worse in the next minute? >> it could get a little worse. all the negative things considered, things aren't bad, down 80, 90 points at the end of the day. >> i'm going to go. we've got some numbers after the close. nike, we're waiting on, second hour of the "closing bell." see you tomorrow. alan, good to talk to you. >> you're skeptical on this rally? >> i am. >> is there a level that you need to get down to and you'll want to get back into this market again? >> you know, it is. it's funny you say that. years ago when i first started, you have a buy and hold. people would
CNBC
Mar 25, 2013 4:00pm EDT
other side -- >> why wouldn't that happen? >> why wouldn't it? the economy is starting to improve. we're still seeing -- you know, you're talking two years out. i think the market's going to be at 17,000 in two years. i'm talking the opposite direction. i'm not a super, super bull. but in two years, i definitely think we're going to see, you know, lower unemployment. >> 3,300 down here. 17,000 up. >> that's a huge -- >> who's right? huh? >> i am. >> there you -- thank you, peter. >> thank you. >> see you later. heading toward the close. a day very much dictated by events overseas. the bailout of the cyprus banks seem to be a catalyst to the upside this morning. until the dutch finance minister had his say. but we are finishing well off the lows of the session. the dow was down 117 at the low of the day. and we're down about 50 right now. stay tuned. super bear harry dent is joining us on the second hour of "the closing bell." >>> welcome to "the closing bell," i'm sue herera in for maria bartiromo. bill will join me in a moment. not a great finish to the first trading day of the w
FOX Business
Mar 22, 2013 3:00pm EDT
i need it. because then started to address that earlier. it is going to be because the economy is doing better. we will start to see some true growth. connell: we may have addressed it with ben bernanke. [laughter] what are your thoughts? i am sure the currency and trade affects everything that is going on out there. the different markets you are following at imax, giving issues that we are to just? >> right now we are not strong in crude oil. it is surprising if the issues are not something that could affect other areas in europe. this could be a huge bearish move for crude oil coming on. it's interesting to me that we rent out so strong. what i'm looking for is that we have to break 94 and 10 level. however, right now though, short-term, bullish. long-term, very bearish. >> it sounds like this may be the most cautious about what is happening as we head into next week. going back to ben, what about heading into next week? we do have that deadline we will talk about later. >> i don't think cypresses anywhere near as important as the european union. i am looking for a pullback. but
Search Results 0 to 20 of about 21